Disburse Loan Funds via Tool

These steps explain how to disburse loan funds using the Disburse Member Loan Funds tool.

  • In order to complete these steps, you must first activate your teller drawer.

  1. Launch Tool #50 Disburse Member Loan Funds.

  2. Enter account number, loan suffix, and name ID if required.  

  3. Click the forward arrow.

  4. From the Loan Disbursement screen, add disbursement instructions by clicking Add.

  5. Enter the amount to be disbursed in the Disbursement amount field.

  6. From the Disbursement type dropdown, select the method of disbursement (CU check, G/L transfer, or Member transfer).

    • If disbursing as a check, update the Pay to the order of and Remitter fields with the name and address. You may use the Pay to dealer button to autofill these fields with the dealer’s information, if configured.

    • If disbursing as a member transfer, enter the account number to transfer the funds to. If applicable, choose an HAS/IRA code.

    • Fees and other miscellaneous items can be paid to a G/L account. When disbursing as a G/L transfer, select a configured posting code or input the G/L account number to transfer the funds to.

  7. Click Add/Update. The totals will record the transaction and update the Total disbursement amount. The Disbursement available total will be updated when adding new disbursement instructions.

    • Repeat steps 5-8 until all disbursement instructions have been added.

  8. Once all disbursement instructions have been added, you may click Post all to post the disbursements. A pop-up confirmation screen will appear; click Confirm to post.